I thought I’d start a thread for a company I’ve been following for a while. Hopefully, this thread will be useful to someone
Implantica is a “medtech” company, and their products consist of various medical implants. The company has an extensive patent portfolio for an EHealth platform, which enables remote programming of implants, and they also hold a patent for a charging system that allows implants and other batteries to be charged through the skin.
Currently, their most important product is RefluxStop, which is a treatment for reflux disease. RefluxStop is an implant that is endoscopically placed in the upper part of the stomach, preventing stomach acids from entering the esophagus. Compared to medications, the advantage of RefluxStop is that it effectively prevents stomach acids from entering the esophagus, thus also preventing a condition called Barrett’s esophagus. Barrett’s esophagus develops when stomach acids cause cellular changes in the esophagus, which can later develop into cancer.
RefluxStop received CE marking in 2018, and studies conducted in 2017 showed the implant to be a safe and effective treatment. On 11.11.2020, Implantica published the results of a three-year follow-up for 47 patients, and they were very positive. None of the patients had required reflux medication during this time, and no complications had occurred.
On 2.11.2020, Implantica applied for FDA approval for RefluxStop and expects to meet with them within the next 75-90 days. In my opinion, there might be a delay, as the FDA has its hands full, and many approvals have been delayed recently.
Below are links to the research results of the RefluxStop implant and the company’s Q3 results.
A bit off-topic, but it’s a great shame that RefluxStop didn’t reach the market sooner. We’ve been battling with a baby who has extremely severe reflux for over 7 months now. This personal experience, however, makes this case interesting from an investment perspective. It’s definitely one to keep a close eye on.
I became acquainted with the company around the time of its IPO. The company’s CEO had previously sold his invention to a pharmaceutical giant (I think it was J&J). Now he has made a long list of new inventions, largely with his own funding, of which this treatment for reflux disease is the first attempt to commercialize. The CEO wants to grow the company into a medtech giant himself.
A very interesting company, but still a bit too much risk for me at this stage. Revenue has only just started to come in, and I would still like to see evidence of permits being granted and commercial success. Of course, if those materialize, the share price could be much higher, but I’ll grant that return to those with a greater appetite for risk
You are right that there are still considerable risks with this company. On the other hand, based on research, things are looking good, and there will certainly be demand for RefluxStop. According to the CEO, there are about 375 million people in the world who suffer from this condition, and the company sees the number of potential RefluxStop operations being over 2 million per year. But over what time frame, that is the biggest question?
On the other hand, the operation is simpler compared to current surgeries and apparently offers a better outcome.
Thanks for the opening! I myself suffer from this disease, and it’s completely new information that it can be treated this way (hopefully in the near future). I have many friends and acquaintances who suffer from the same ailments, and in discussions with doctors, it has become clear that the disease is on the rise in Western countries. It is often associated with lifestyle diseases, meaning that overweight and unhealthy lifestyles increase the risk of getting sick. So I believe there is a market and customers’ willingness to pay, because at least drug treatment has its own drawbacks and they don’t work for everyone. I’m going to follow what happens with this and also look into places to buy, in terms of support and why not also getting rich
Small turnover and the insiders own a large portion of the shares, so if you want shares, you have to pay a “hard” price. Of course, the approaching FDA approval and subsequent entry into large markets will increase the share value.
However, in the long term, there is room for significant growth due to these drivers.
I would fix that TITLE!!! that app, Implantica AG, is a German implant company in trouble (which seemed to have some interesting ideas), and the REFLUX COMPANY is SWEDISH!
Implantica kuuluu nyt NASDAQ First North 25 indexiin.
Implantica included in Nasdaq First North 25 index
Implantica AG (publ) today announced it is joining the FN 25 index from the start of trading this morning.
Implantica’s inclusion in the First North 25 index was announced by Nasdaq in its latest semi-annual review of the index. First North 25 consists of the largest and most traded shares listed on the First North Growth Market.
Implantica CEO Peter Forsell said: “It is an honor to be selected for inclusion in the FN 25 index and validates the high interest we have received from investors since our listing in September. We look forward to an exciting future where eHealth is anticipated to completely reform healthcare, and we believe our advanced eHealth platform will place us in the forefront of this transformation."
Can someone tell me what has been pushing this down lately? It’s been on my watchlist, seems like an interesting product (signed, also suffering from reflux). I haven’t really delved into the company’s news, so if someone could/would bother to briefly explain, has there been bad news, or just a normal pullback? I’ve been thinking about jumping into this stock, but are there negative things in the air that might push the price even lower?
There hasn’t been any news, but the IPO was quite overbought and, as is typical for the times, listed at a high price. Now, the excess air is being blown out of the stock as we await FDA approval, which is likely to be delayed due to the coronavirus, just like many other approvals.
Things are slowly progressing with RefluxStop, even though Covid is still slowing down this process. One would think there would be demand for the product in a country of heavy consumers of fatty and deep-fried food.
Implantica AG (publ) today announces that RefluxStop™ will start selling in the UK with reimbursement.
Implantica is now reinforcing the sales organisation with UK sales people as the company starts to sell RefluxStop™ with reimbursement in the UK. Implantica foresees that the UK will become an important market for the company going forward. Surgical training will kick-off with webinars from the beginning of March with representatives from Switzerland’s largest university hospital, Inselspital, in Bern.
“We really look forward to commencing sales with reimbursement in the UK, which will accelerate once Covid-19 subsides,” said Peter Forsell, CEO of Implantica. “At this stage we are focusing on the NHS hospitals (publicly funded healthcare). We intend to collect standard of care data in a registry for RefluxStop, which has been prepared and is ready to be launched including a web-based data collection system.”
Let’s continue this monologue on this topic, and this time the subject is Q4 results.
Full year
Net sales amounted to TEUR 152 (28)
•Operating loss (EBIT) increased to TEUR 10,641 (4,570) driven by listing costs
•Loss after tax amounted to TEUR 10,277 (4,805)
•Basic and diluted loss per Class A share amounted to EUR 0.20 (0.11)
•Cash outflow from operating activities amounted to TEUR 10,364 (3,573) with listing costs being the key driver
So, it’s making a loss, which hardly comes as a surprise for a company at this stage.
Things are progressing in Britain and Germany, and the approval process is underway in 30 countries. A meeting with an FDA surgical “expert” or equivalent was held after the application was submitted. They expect the next step with the FDA to be a third meeting (“pre-submission supplement leading to a third meeting”).
The report generally mentions that they have received a lot of positive feedback on the product, follow-up results are excellent, and they believe they will be pioneers in eHealth in the future.
What’s the market cap of this company @Pevitaha? Nordnet doesn’t show this information at all for some reason. The number of shares and market value shows zero or a dash
I was wondering the same thing last night and after some research, I came up with the following figures. @Pevitaha or others, please correct me if I’m wrong:
There are 53,211,537 Class A shares and 56,250,000 Class B shares listed on the stock exchange. However, Class A shares are valued at 2 CHF on the balance sheet, while Class B shares are valued at 0.4 CHF. Thus, “converted” to correspond to the value of A-shares, the number of B-shares would be 56,250,000 * (0.4/2.4) = 9,375,000 pcs. In total, this makes 62,586,537 shares. The stock market valuation is therefore 62,586,537 * 144.8 SEK = 9,062,530,558 SEK. Converted to euros, the market value is approximately 895 MEUR.
The valuation is quite steep, considering that practically no profit is being generated yet (150 TEUR). The IPO was done at a valuation of approximately 400 MEUR, which wasn’t cheap either. However, when browsing the IPO material, one can find potential future potentials for the products, which are in the billion-class/year. In my opinion, the company is valued too highly, but after my overnight research, I decided to take a monitoring position in this soon. Most likely, we won’t even reach P/S 10 figures until sometime in 2024-2025. Although, by then, the share price will probably be front-running figures from entirely different years.
It’s a strong valuation if the market capitalization is that high. Interesting products nonetheless, and definitely big potential. I’ll have to calmly check out the IPO materials. Thanks for the answer
What bothers me a little in this case is the high valuation of a company that doesn’t yet have sales and whose product is still in the approval phase in many markets.
What interests me about this company is, of course, RefluxStop, which has the potential to be a solution to a common and really unpleasant ailment, but also its extensive patent portfolio. There are several interesting potential new projects and ideas to be found in their website materials.
I myself have invested very cautiously in this company because there is still a lot of risk involved, as in most growth-stage/launching companies operating in the medical field.
